Economies around the world are sluggish, millions of people have to cut back - some people are getting richer. The international economic developments in the news ticker.
- The corona virus * damages the global economy enormously.
- Numerous countries set up aid programs * .
- But not all companies suffer from the economic consequences of the pandemic .
- Here you will find the basic facts about the corona virus * and the corona news from Germany *. You can also find current case numbers in Germany here as a map *.
Update April 19: Also Denmark grapples with the economic crisis due to the Corona pandemic - and now has its state aid again increased by 100 billion kroner (almost 15 billion euros). What is special: The government of Prime Minister Mette Frederiksen excludes some companies from the support.
According to a report on the bloomberg.com website , there should be no money for companies and companies that pay dividends , buy back their own shares or have company headquarters in so-called “ tax havens ”. At the same time, the measures will be extended until July 8, 2020. The decision was supported by all parties in Parliament, the Folketing.
The advance also finds first supporters in Germany: The chief economist of the union ver.di , Dierk Hirschel praised on Twitter, Denmark sanctioned "anti-social corporate policy" - "Why can't Berlin do what is necessary in Copenhagen and Paris?" The left member of the Bundestag, too Doris Achelwilm was impressed. "Would be too nice if the federal government came up with such ideas."
Antisocial corporate policy is also sanctioned in # Denmark. Companies that distribute dividends, buy back shares and have a mailbox in a tax haven do not receive state aid. Why can't Berlin do what is possible in Copenhagen and Paris?
- Dierk Hirschel (@DierkHirschel) April 19, 2020Corona crisis in the global economy: Major industrial nations adopt pioneering measures
Update of April 18: The foreign ministers of more than ten countries , including Germany, France and Great Britain, agreed in a conference call to work to keep international trade and transport routes open in the Corona crisis . It is now important to pay attention to the restoration of essential supply chains and flight connections , said the State Minister at the Federal Foreign Office, Niels Annen (SPD), on Saturday. "Only through international cooperation can we secure this and help ensure that urgently needed goods arrive and that the economy gets going again."
According to the Federal Foreign Office, 15 countries participated in the switching of ministers and their representatives on Friday, including Italy, Brazil, Canada, Turkey, Indonesia, Morocco and Mexico. The countries agreed to work to ensure that key transportation hubs around the world remain open to transit and freight transportation, to maintain supply chains and to allow stranded travelers to return to their home countries.
As the Foreign Office said, the talks are the result of an initiative by Canada . The group of foreign ministers from several countries coordinate every two weeks on concrete steps to overcome the consequences of the pandemic.
Corona virus: two disasters with one stone? Austria wants to help Austrian Airlines
Update from April 17, 9:05 p.m .: Austria apparently wants to put climate change on the agenda at least in part with government aid in the Corona crisis. Environment Minister Leonore Gewessler wants to link possible payments for Austrian Airlines to climate protection requirements. "If we take several hundred million in hand, this money must be conditional," said the Green politician of the newspaper Kurier. It is taxpayers' money and the taxpayer must have something from it "if the company is better again," said Gewessler.
Corona crisis - Austrian Airlines extends flight stop
© dpa / Unknown
The aviation industry is "heavily challenged in the climate crisis," said Gewessler. With regard to possible financial aid for Austrian Airlines, it must therefore "be about setting conditions where climate protection can be promoted". The minister referred to suggestions from experts that, among other things, would have severely restricted short-haul flights and the use of alternative fuels.
The Greens in Austria have been in a government coalition with the conservative ÖVP of Chancellor Sebastian Kurz since January . The party has promised massive investments in climate protection. The Lufthansa subsidiary Austrian Airlines extended its flight stop to May 17 because of the Corona crisis and asked for state aid. According to media reports, the necessary aid amounts to 500 to 800 million euros.
In Germany, an entrepreneur is meanwhile criticizing the Federal Government's measures.
Corona Crisis Economic Impact: US Retailers Have Bad News
Update 3:52 p.m .: The measures to contain the new corona virus in the USA have caused the retail sales to plummet. Sales in March were down 8.7 percent compared to the previous month, the US Department of Commerce said. In the United States, retail accounts for a comparatively high proportion of total economic output.
The corona crisis does not seem to affect his company: The assets of Amazon CEO Jeff Bezos , according to the Bloomberg Billionaires Index, have risen by $ 24 billion to $ 138.5 billion since the beginning of the year. The reason is the ongoing soaring of the Amazon share . It rose by a good five percent on Tuesday and reached a new record high , from which the founder of the group benefits as a major shareholder.
Amazon delivery services in demand in corona crisis - Group is accused of lacking employee protection
Amazon's delivery services are in high demand in the Corona crisis. The world's largest online retailer is having a hard time with the rush, many customers currently have to wait a long time or cannot place orders. Amazon is also accused of not doing enough to protect employees. The group faces protests and is criticized for controversial layoffs. This does not bother investors, however, despite the general fall in prices on the stock exchanges, Amazon shares have risen by almost a quarter since the beginning of the year.
Corona crisis: Von der Leyen wants investment program in the trillions
EU Commission President Ursula von der Leyen wants to fight the economic consequences of the pandemic * European investments in the trillions . "We're not talking about billions here, we're talking about trillions," said von der Leyen on Wednesday in Brussels. The EU budget is the right means for the “huge investments” .
Amazon CEO Jeff Bezos makes billions in the corona crisis.
© dpa / Andrej Sokolow
Are the corona bonds coming? Von der Leyens deputy leaves the question open
Leyens' deputy Valdis Dombrovskis had recently shown how this should be financed: via bonds that the EU Commission intends to borrow and for which the EU states must guarantee. Dombrovskis left open whether and how such bonds differ from the controversial corona bonds *.
Von der Leyen confirmed the principle: “leveraging” money from the EU budget with the help of guarantees from the member states. This is a tried-and-tested instrument, if not yet on the scale envisaged, said the head of the commission.
Charles Michel: EU single market damaged in the Corona crisis
She pointed out that the EU and its member states had already mobilized three trillion euros in the corona crisis * and had become heavily indebted for it. But be convinced together with EU Council President Charles Michel that more needs to be done.
Michel announced plans to discuss the level and funding of massive investments at the video summit of leaders next week. Above all, he emphasized the importance of reviving the EU single market , which suffered during the crisis * . The European economic area must be strengthened again.
dpa / AFP / frs
* Merkur.de is part of the nationwide Ippen digital editorial network.
List of rubric lists: © AFP / PHILIP DAVALI